January 30, 2013 at 06:00 AM EST
Incap Corporation's board of directors decided on private placement as payment for convertible loan

Incap Corporation
Stock Exchange Release 30 January 2013 at 1 p.m.

INCAP CORPORATION`S BOARD OF DIRECTORS DECIDED ON PRIVATE PLACEMENT AS PAYMENT FOR CONVERTIBLE LOAN

Incap Corporation`s Board of Directors has today used the authorisation issued by the Annual General Meeting on 11 April 2012 and decided on a private placement, which the company uses to redeem a part of the convertible loan issued in the year 2007. The private placement is a part of the financing arrangement, which the company announced on 17 January 2013.

In the private placement, one holder of the convertible bond will receive a total of 1,697,286 new shares as a settlement for loan shares. The calculatory subscription price is EUR 0.22. The new shares amount to approximately 8.1% of all shares in the company prior to the share issue.

The issue of new shares deviates from the pre-emptive right of the current shareholders by way of offering the new shares entirely to a holder of the company`s convertible loan. There is a significant financial reason for the company to deviate from shareholders` pre-emptive subscription rights because the purpose of the private placement is to ensure the company`s solvency through a quick, low-cost arrangement.

The new shares convey a right to dividend and other shareholder`s rights as from the registration of the new shares to the Trade Register. The company aims to register the new shares as soon as possible. When the new shares have been taken to public trading on the Helsinki Stock Exchange, the number of Incap Corporation`s shares is a total of 22,546,266.

INCAP CORPORATION

Sami Mykkänen
President and CEO

Additional information:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047 or +372 5553 7905
Kirsti Parvi, CFO, tel. +358 50 517 4569
Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 40 504 8296

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.incap.fi

INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap`s customers include leading equipment suppliers in energy-efficiency and well-being technologies, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group`s revenue in 2011 amounted to around EUR 68.9 million, and the company currently employs approximately 610 people. Incap`s share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.




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The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Incap Oyj via Thomson Reuters ONE

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